Here is the latest update from Halifax. Their latest products are viewable here and all accessible via the Brilliant Solutions mortgage club. Contact us for more information.
Green Home cashback products and the collection of Energy Performance Certificate ratings
From Monday 13 February, we will be introducing the collection of a property’s Energy Performance Certificate (EPC) rating on purchase and remortgage applications.
We will also be extending the availability of our Green Home cashback products for properties with an EPC rating of A or B, which are currently available on purchase applications, to remortgage applications.
We’re on a journey to help make the nation’s homes greener. As the UK’s largest mortgage lender, we are committed to supporting customers better understand home energy efficiency, as well as providing products that help customers to consider energy efficiency when purchasing their homes.
By collecting EPC details we can better understand the energy efficiency of the properties we finance, and create opportunities to promote conversations with homeowners regarding the energy efficiency of their homes. Collecting this information will also streamline the process for product selection and clearly flag those properties eligible for our Green Home products.
EPC ratings
On purchase applications a valid EPC must always be captured. For New Build properties a Predicted Energy Assessment (PEA) or Standard Assessment Procedure (SAP) rating is acceptable. On remortgages, if the property does not have a valid EPC the application can still proceed. There is no minimum EPC requirement, unless a Green Home product is selected.
Please see this Keying EPC Guide for further details on these changes. Your Business Development Manager will also be arranging virtual bite-size sessions to show you how simple the changes are.
The new ‘EPC Details’ screen will show for completion on applications from Monday 13 February.
Remortgage cashback products
Green Home cashback products will be launched for remortgage properties with an EPC rating of A or B and up to 85% loan to value.
These products are available for the remortgage of a main residence only. Second home loans are not eligible. If an EPC certificate has expired or an EPC is not available for a particular property, then these products cannot be selected.
Care must be taken to select the correct cashback product code which will start with ‘G’.
Our usual product launch communication will confirm the full product details and when these products are available.